Credit and bond purchases that benefited Greece also brought in revenues to Germany, to the tune of €1.34 billion, according to a media report on Tuesday.
For the first half of 2015 he was the arch nemesis of the German government. But Greece’s left-wing former Finance Minister, Yanis Varoufakis, revealed on Monday his admiration for Chancellor Angela Merkel and her Finance Minister Wolfgang Schäuble.
German MPs voted through a third European bailout package for Greece on Wednesday, although a large number of abstentions and 'no' votes pointed to a sizable rebellion among Chancellor Angela Merkel's ranks.
Chancellor Angela Merkel insists the International Monetary Fund must participate in Greece's new bailout, but doubts about IMF involvement are complicating her bid to sell MPs the deal ahead of Wednesday's key parliamentary vote.
Germany's hardline finance minister Wolfgang Schäuble on Sunday hailed a change in tone in talks with Greece over its next bailout but warned Europe would closely monitor the pace of reforms in Athens.
Eurozone finance ministers approved on Friday a third bailout worth up to €86 billion to keep Greece in the single currency in return for an unprecedented package of reforms that Athens had previously rejected.
Update: Germany said on Wednesday it still needed time to review an international bailout agreement hammered out by Greece and its creditors, but aimed to take a stance by the week's end.
Greece's finance minister announced on Tuesday morning that the Athens government and negotiators sent by the country's creditors had agreed on the shape of a new bailout deal, putting a political showdown on the cards in Germany.
Germany is growing increasingly dubious that a deal on a third bailout for Greece can be sealed this month, the daily Bild reported Thursday citing a government source.
The Bundestag on Friday afternoon approved negotiations on a third bailout for Athens with a clear majority of 439 voting in favour, while 119 MPs voted against the motion.
UPDATE: In an editorial to be published in Die Zeit on Thursday, former Greek Finance Minister Yanis Varoufakis accuses German Finance Minister Wolfgang Schäuble of planning to 'sacrifice' Greece as an example to other eurozone members.
US Treasury Secretary Jacob Lew will travel to Germany and France on Wednesday and Thursday for talks with top officials after the tentative new bailout deal for Greece.
Finance Minister Wolfgang Schäuble said at a meeting in Brussels on Tuesday that talks to unlock a third financial aid package for Greece would be “unusually difficult”, with little room for manoeuvre around strict European rules.
Greece on Sunday faced a final EU summit to clinch a deal that would stop Athens crashing out of the euro after divided eurozone ministers halted "very difficult" talks on a new bailout overnight.
Now that Greeks have voted against accepting tough austerity conditions in return for a fresh tranche of bailout cash, The Local asked Professor Michael Wohlgemuth of Open Europe Berlin how Chancellor Angela Merkel, other political leaders and the German public may respond.
UPDATE: Finance Minister Wolfgang Schäuble said on Friday that there would be no quick release of bailout funds to Greece after the country's referendum on whether to accept its creditors' terms on Sunday.
Tabloid Bild continued its campaign against bailouts for Greece on Friday by calling its own "referendum", asking readers to fill out a poll on whether Germany should keep stumping up. German politicians were divided on how the Greek vote would affect Europe.
German Finance Minister Wolfgang Schäuble said Wednesday crisis-hit Greece was sending mixed signals in debt talks and called on its government to "clarify its position" before negotiations with creditors can resume.
With 'Grexit' (Greek exit from the euro) looking increasingly likely on Monday, Germany remained at the centre of efforts to keep it in the single currency. Catch up on a day of dramatic action here.
Chancellor Angela Merkel warned on Thursday that talks between Greece and its creditors were losing ground as a final deadline for avoiding the country's bankruptcy approaches.
Chancellor Angela Merkel said after a fresh round of eurozone leaders' negotiations on Monday night that she believed a deal to keep Greece in the single currency might be reached this week.
Chancellor Angela Merkel and other EU heads of government will gather in Brussels on Monday for last-ditch talks over the Greek crisis, after Thursday's meeting of eurozone finance ministers failed to make any progress.
Germany's finance ministry said on Monday it is now up to Greece to make proposals to reach a deal with its creditors that will save it from default in down-to-the-wire talks.
